Key Points
- CEO David Meniane increased his stake by purchasing 4,612 CarParts.com shares for $31,730.56, raising his direct ownership to 212,323 shares. He also bought an additional 7,552 shares the following day.
- CarParts.com recently reported better-than-expected quarterly results, with revenue of $135.64 million versus the $129.04 million consensus and an EPS loss of $0.43 compared with estimates for a $0.85 loss.
- Despite institutional ownership of 75.30%, analyst sentiment remains cautious: the consensus rating is “Reduce”, with an average price target of $6.00, below the stock’s $7.23 opening price.
CarParts.com, Inc. (NASDAQ:PRTS - Get Free Report) CEO David Meniane bought 4,612 shares of the stock in a transaction on Thursday, August 27th. The stock was purchased at an average price of $6.88 per share, for a total transaction of $31,730.56. Following the completion of the purchase, the chief executive officer directly owned 212,323 shares in the company, valued at approximately $1,460,782.24. This represents a 2.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
David Meniane also recently made the following trade(s):
- On Friday, August 28th, David Meniane purchased 7,552 shares of CarParts.com stock. The shares were purchased at an average price of $7.16 per share, with a total value of $54,072.32.
CarParts.com Trading Down 0.6%
CarParts.com stock opened at $7.23 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.66 and a current ratio of 1.67. CarParts.com, Inc. has a fifty-two week low of $3.72 and a fifty-two week high of $13.60. The stock has a market cap of $58.35 million, a P/E ratio of -1.67 and a beta of 0.66. The firm's fifty day moving average price is $5.96 and its 200-day moving average price is $6.94.
CarParts.com (NASDAQ:PRTS - Get Free Report) last posted its earnings results on Thursday, August 6th. The specialty retailer reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.42. CarParts.com had a negative return on equity of 47.19% and a negative net margin of 5.35%.The business had revenue of $135.64 million during the quarter, compared to analysts' expectations of $129.04 million.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on PRTS. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of CarParts.com in a research note on Friday, July 17th. Royal Bank Of Canada raised their target price on CarParts.com from $5.00 to $6.00 and gave the stock a "sector perform" rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $6.00.
Get Our Latest Stock Analysis on CarParts.com
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its stake in shares of CarParts.com by 18.5% during the 4th quarter. Mackenzie Financial Corp now owns 1,779,674 shares of the specialty retailer's stock valued at $880,000 after purchasing an additional 277,807 shares in the last quarter. Citadel Advisors LLC boosted its position in CarParts.com by 171.5% during the 3rd quarter. Citadel Advisors LLC now owns 148,771 shares of the specialty retailer's stock valued at $106,000 after acquiring an additional 93,971 shares in the last quarter. Private Management Group Inc. bought a new position in shares of CarParts.com in the 3rd quarter worth approximately $65,000. North Star Investment Management Corp. lifted its stake in shares of CarParts.com by 6.3% in the 1st quarter. North Star Investment Management Corp. now owns 1,435,853 shares of the specialty retailer's stock valued at $1,128,000 after purchasing an additional 85,000 shares during the period. Finally, Geode Capital Management LLC grew its stake in CarParts.com by 14.9% in the fourth quarter. Geode Capital Management LLC now owns 649,984 shares of the specialty retailer's stock worth $325,000 after purchasing an additional 84,064 shares during the period. 75.30% of the stock is currently owned by institutional investors.
About CarParts.com
(
Get Free Report)
CarParts.com, Inc operates as a leading online retailer of aftermarket automotive parts and accessories in the United States. Through its flagship website CarParts.com and affiliated e-commerce platforms, the company offers replacement components, performance upgrades, maintenance items and collision repair parts for a wide range of domestic and import vehicles. Its product catalog includes engine parts, exterior and interior accessories, lighting, braking systems and powertrain components, supported by an extensive inventory and proprietary order management system.
Founded in 1995 by George Chamoun and headquartered in Torrance, California, CarParts.com has grown from a regional auto parts supplier into a national e-commerce platform.
Further Reading
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